New York State Teachers Retirement System Lowers Stake in Bank OZK (NASDAQ:OZK)

New York State Teachers Retirement System reduced its position in shares of Bank OZK (NASDAQ:OZKGet Rating) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,351 shares of the company’s stock after selling 800 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Bank OZK worth $5,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Bank OZK by 14.4% in the 2nd quarter. State Street Corp now owns 12,251,944 shares of the company’s stock valued at $459,815,000 after buying an additional 1,539,531 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bank OZK by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,565,671 shares of the company’s stock valued at $109,555,000 after buying an additional 156,127 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Bank OZK by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 1,568,195 shares of the company’s stock valued at $62,038,000 after buying an additional 14,491 shares in the last quarter. Millennium Management LLC raised its holdings in Bank OZK by 168.3% in the 2nd quarter. Millennium Management LLC now owns 641,095 shares of the company’s stock valued at $24,060,000 after acquiring an additional 402,167 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Bank OZK by 22.2% in the 2nd quarter. ProShare Advisors LLC now owns 589,407 shares of the company’s stock valued at $22,121,000 after acquiring an additional 107,267 shares during the last quarter. 76.17% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

NASDAQ:OZK opened at $41.65 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $5.22 billion, a P/E ratio of 9.53 and a beta of 1.38. The company has a 50 day moving average price of $42.79 and a 200 day moving average price of $41.46. Bank OZK has a fifty-two week low of $34.79 and a fifty-two week high of $50.64.

Bank OZK (NASDAQ:OZKGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). Bank OZK had a return on equity of 12.72% and a net margin of 43.58%. The company had revenue of $323.78 million for the quarter, compared to analysts’ expectations of $305.09 million. During the same period in the previous year, the business posted $1.00 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that Bank OZK will post 4.5 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 17th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, January 13th. This is a boost from Bank OZK’s previous quarterly dividend of $0.33. Bank OZK’s dividend payout ratio (DPR) is currently 30.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens increased their price objective on shares of Bank OZK from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, October 24th. Truist Financial cut their price objective on shares of Bank OZK from $45.00 to $43.00 and set a “hold” rating for the company in a report on Tuesday, October 25th. Morgan Stanley assumed coverage on shares of Bank OZK in a report on Monday, December 5th. They issued an “equal weight” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday, January 4th. Finally, UBS Group raised their price target on shares of Bank OZK to $48.00 in a report on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.44.

About Bank OZK

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Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.

See Also

Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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